Pixar have announced they are making 'Toy Story 4'.

The animation studio has revealed they are planning a fourth instalment in the popular franchise following on from the success of 'Toy Story 3' in 2010, eleven years after 'Toy Story 2' was released in 1999 and fifteen years after the original 'Toy Story' in 1995.

John Lasseter - who directed the first two films - is onboard to take the helm of the next instalment, which will open a new chapter in the lives of characters Woody, Buzz Lightyear and the rest of the gang.

Speaking about reuniting with writers Andrew Stanton, Pete Docter and Lee Unkrich to create 'Toy Story 4', Lasseter said: ''We love these characters so much; they are like family to us.

''We don't want to do anything with them unless it lives up to or surpasses what's gone before. Toy Story 3 ended Woody and Buzz's story with Andy so perfectly that for a long time, we never even talked about doing another Toy Story movie.

''But when Andrew, Pete, Lee and I came up with this new idea, I just could not stop thinking about it. It was so exciting to me, I knew we had to make this movie - and I wanted to direct it myself.''

Rashid Jones and Will McCormack have also joined the writing team while Pixar veteran Galyn Susman is producing.

'Toy Story 4' is slated for release on June 16, 2017.